1. What is for sale? Certain items of machinery and equipment belonging to Debtor (defined below) and used in the manufacture of industrial abrasive cutting and grinding products (the “Collateral”). The Collateral includes, without limitation, molding presses, mixing equipment, testing equipment and support items.
2. Who is the Debtor? Calumet Abrasives Co., Inc., an Indiana corporation (“Debtor”).
3. Who is selling the Collateral? First Midwest Bank, an Illinois banking corporation (“Creditor”), as the holder and owner of certain credit agreements (including, but not limited to, certain business loan agreements, promissory notes, security agreements and other collateral documents) evidencing indebtedness, and securing payment thereof, owed by Debtor to Creditor.
4. When and where is the sale? The sale will be held on May 13, 2020 at 2:00 p.m. and will be conducted remotely using a call-in phone number which can be obtained as explained below.
5. How to get additional information?
6. What are the sale procedures?
7. Is there additional information of interest to the Debtor? Yes. An accounting of Debtor’s unpaid indebtedness to Creditor that is secured by the Collateral may be obtained by Debtor by inquiry directed to Brian Conti, 8750 West Bryn Mawr Avenue, Suite 1300, Chicago, IL 60631 (708) 831-7263. Creditor reserves the right to seek judgment against Debtor for any and all deficiencies remaining due after said sale and reserves the right to proceed against any other collateral securing payment of the indebtedness of Debtor to Creditor to satisfy such deficiency.
DailyDAC™ is the oldest, most trusted, and most widely used provider of public notices of asset sales and case commencements, and other important notices involving companies in financial distress in the United States and Canada. DailyDAC™ public notices are used by bankruptcy trustees, chapter 11 debtors in possession, federal and state court receivers, and secured parties disposing of their collateral under Article 9 of the Uniform Commercial Code or other state law trust (and their respective auction firms, law firms, and other agents). Learn more.
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